China: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in China

The Chinese taro (cocoyam) market amounted to $X in 2022, remaining relatively unchanged against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Taro (Cocoyam) Production in China

In value terms, taro (cocoyam) production amounted to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 45%. As a result, production attained the peak level of $X. From 2015 to 2022, (cocoyam) production growth remained at a lower figure.

The average yield of taro in China amounted to X tons per ha in 2022, stabilizing at 2021. In general, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the yield increased by 1.2%. Over the period under review, the average taro (cocoyam) yield reached the peak level at X tons per ha in 2018; however, from 2019 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of taro in China contracted slightly to X ha, remaining stable against the previous year's figure. Over the period under review, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 2.8%. Over the period under review, the harvested area dedicated to taro (cocoyam) production reached the peak figure at X ha in 2021, and then reduced modestly in the following year.

Taro (Cocoyam) Exports

Exports from China

In 2022, shipments abroad of taro decreased by -5.6% to X tons, falling for the third consecutive year after five years of growth. Over the period under review, exports showed a slight contraction. The growth pace was the most rapid in 2015 with an increase of 18%. Over the period under review, the (cocoyam) exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, taro (cocoyam) exports expanded sharply to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 12% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the (cocoyam) exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for taro (cocoyam) exports from China, accounting for a 55% share of total exports. Moreover, taro (cocoyam) exports to Japan exceeded the volume sent to the second major destination, Vietnam (X tons), fivefold. The United Arab Emirates (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+1.3% per year) and the United Arab Emirates (+8.6% per year).

In value terms, Japan ($X) remains the key foreign market for taro exports from China, comprising 72% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 6.7% share of total exports. It was followed by the United Arab Emirates, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+9.8% per year) and the United Arab Emirates (+17.6% per year).

Export Prices by Country

The average taro (cocoyam) export price stood at $X per ton in 2022, rising by 16% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, taro (cocoyam) export price increased by +23.9% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 39%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Taro (Cocoyam) Imports

Imports into China

After two years of growth, purchases abroad of taro decreased by -55.3% to X tons in 2022. Over the period under review, imports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 235%. Over the period under review, (cocoyam) imports reached the maximum at X tons in 2021, and then shrank dramatically in the following year.

In value terms, taro (cocoyam) imports dropped markedly to $X in 2022. Overall, imports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2018 when imports increased by 291% against the previous year. Imports peaked at $X in 2021, and then declined markedly in the following year.

Imports by Country

In 2022, Myanmar (X tons) was the main taro (cocoyam) supplier to China, accounting for a 91% share of total imports. Moreover, taro (cocoyam) imports from Myanmar exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Myanmar totaled +80.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+22.4% per year) and Vietnam (-0.1% per year).

In value terms, Myanmar ($X) constituted the largest supplier of taro to China, comprising 90% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 5.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Myanmar amounted to +92.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+30.7% per year) and Vietnam (+4.7% per year).

Import Prices by Country

The average taro (cocoyam) import price stood at $X per ton in 2022, rising by 2.2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 59%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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